Being a part of the board of a homeowners association (HOA) can be rewarding work. It provides you an opportunity to be an integral part of a community. Your actions and decision not only impact property values, but enhance the lives of those around you. However, there’s a great deal of work that goes into running a homeowners’ association. There are tasks like maintaining common areas or financial management that you either don’t have the time or are not qualified to do.
A solution that many HOAs explore is hiring a management company. This is great option, especially if you are a part of a larger property. For residents, there may be some confusion in regards to the role of a management company versus that of the HOA. There may even be companies that don’t understand why a Tampa HOA property management company would be helpful.
To answer those questions, here’s a rundown of how management companies can successfully work with HOA boards.
DAY TO DAY OPERATIONS
The primary role of a HOA management company is to support the efforts of the HOA. This is accomplished in a number of ways, including through the management of day to day operations. Management companies can collect dues and fees, communicate with residents, and maintain the look and feel of common areas.
MAINTENANCE AND REPAIR OF MAJOR SYSTEMS
Many management companies have either staff or vendors that can make sure major systems, like plumbing or electrical, are maintained or repaired as needed. If your property has a pool, your management company can likely maintain that as well.
HOA management companies can also provide great support to HOA’s by enforcing the rules that HOA’s create. This is an important task because rule enforcement can often be uncomfortable, especially when you consider that the board members may be attempting to levy fines on others within their community. Management companies are unbiased entities that can impartially and consistently enforce rules.